EVs sales rise to 9.3 percent of South Korea's new car market share


(MENAFN) According to recent statistics released by the Ministry of Land, Infrastructure and Transport, electric vehicles (EVs) accounted for a notable 9.3 percent of total new car sales in South Korea throughout the entirety of 2023. This data signifies a significant uptick in the adoption of electric cars within the country. Out of a total of 1.74 million cars sold in South Korea last year, electric car sales surged to 162,507 units, marking a substantial increase from previous years.

Comparing the figures to historical data reveals a remarkable trajectory in electric car sales. Notably, in 2019, EVs represented a mere 1.9 percent of new car sales, indicating a considerable leap in consumer preference for electric vehicles over the past few years. However, while the 9.3 percent market share achieved in 2023 showcases a commendable growth, there was a slight decrease compared to the preceding year, 2022, when electric cars captured 9.7 percent of the market share.

The statistics underscore a shifting automotive landscape in South Korea, with EVs steadily gaining traction among consumers. This rise in popularity aligns with global trends towards sustainability and reduced carbon emissions. As advancements in electric vehicle technology continue and infrastructure support for EVs expands, it is expected that the proportion of electric cars on South Korean roads will continue to increase in the coming years.

MENAFN13022024000045015682ID1107845288


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.